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Citibank’s Bold Copper Price Forecast for 2017-2020

iconJul 13, 2017 10:12
Source:SMM
Citibank expects copper prices to top $6,000 per tonne due to supply deficit.

SHANGHAI, Jul. 13 (SMM) - Citibank expects copper prices to top $6,000 per tonne due to supply deficit, and reach $7,000 per tonne before the end of 2017. Copper prices may even outstrip $8,000 per tonne by the end of 2020, according to stcn.com.

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China’s demand will grow 3-4% in the back half of 2017 due to grid upgrading and vehicle sales. This will drive up copper prices. 

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